Intevac (IVAC) Lowered to Strong Sell at ValuEngine

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ValuEngine lowered shares of Intevac (NASDAQ:IVAC) from a sell rating to a strong sell rating in a research note released on Tuesday, May 29th.

Several other equities research analysts have also recently issued reports on IVAC. B. Riley restated a buy rating and set a $11.50 price objective (down from $14.00) on shares of Intevac in a research report on Thursday, February 1st. Maxim Group restated a buy rating and set a $12.00 price objective on shares of Intevac in a research report on Thursday, February 1st. Zacks Investment Research upgraded shares of Intevac from a sell rating to a hold rating in a research report on Wednesday, April 4th. Noble Financial cut shares of Intevac from a buy rating to a hold rating in a research report on Tuesday, May 1st. Finally, TheStreet cut shares of Intevac from a c+ rating to a d+ rating in a research report on Monday, April 30th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $9.50.

Shares of Intevac traded down $0.03, hitting $4.67, during midday trading on Tuesday, Marketbeat.com reports. The company’s stock had a trading volume of 155,500 shares, compared to its average volume of 170,601. The company has a market cap of $107.33 million, a P/E ratio of 27.47 and a beta of 0.81. Intevac has a 12-month low of $4.51 and a 12-month high of $12.25.

Intevac (NASDAQ:IVAC) last posted its quarterly earnings results on Monday, April 30th. The electronics maker reported ($0.23) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.23). The firm had revenue of $17.97 million for the quarter, compared to the consensus estimate of $17.90 million. Intevac had a negative net margin of 2.83% and a negative return on equity of 3.81%. During the same period last year, the firm posted $0.08 earnings per share. analysts expect that Intevac will post -0.25 earnings per share for the current year.

In other Intevac news, major shareholder April Fund Ltd. 21 acquired 222,000 shares of the company’s stock in a transaction that occurred on Monday, April 23rd. The stock was purchased at an average price of $6.14 per share, for a total transaction of $1,363,080.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders purchased 506,749 shares of company stock valued at $2,890,932 in the last 90 days. Company insiders own 7.00% of the company’s stock.

A number of institutional investors have recently modified their holdings of IVAC. Royce & Associates LP lifted its stake in Intevac by 24.2% in the fourth quarter. Royce & Associates LP now owns 1,741,646 shares of the electronics maker’s stock worth $11,930,000 after acquiring an additional 338,871 shares during the last quarter. Arnhold LLC purchased a new position in Intevac in the first quarter worth approximately $2,026,000. Deutsche Bank AG lifted its position in shares of Intevac by 98.6% during the 4th quarter. Deutsche Bank AG now owns 243,241 shares of the electronics maker’s stock worth $1,665,000 after buying an additional 120,793 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Intevac by 14.1% during the 4th quarter. Renaissance Technologies LLC now owns 859,685 shares of the electronics maker’s stock worth $5,889,000 after buying an additional 106,400 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Intevac by 10.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 988,968 shares of the electronics maker’s stock worth $6,824,000 after buying an additional 94,884 shares during the last quarter. Institutional investors own 67.34% of the company’s stock.

About Intevac

Intevac, Inc provides vacuum deposition equipment for various thin-film applications, and digital night-vision technologies and products to the defense industry in the United States, Asia, Europe, and internationally. It operates in two segments, Thin-Film Equipment and Photonics. The Thin-film Equipment segment designs, manufactures, markets, and services disk sputtering, etch and deposition, and disk lubrication systems; and offers upgrades, spares, and consumables, as well as provides process and applications support, customer training, installation, start-up assistance, and post-installation support services.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Intevac (NASDAQ:IVAC)

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